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Dec 28, 2012
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gets under way right now. >>> and welcome back, everybody, to the "closing bell." i'm mandy drew i sitting in for maria bartiromo. lots of drama in washington. congressional leaders have arrived at white house. they arrived there about an hour ago with three days to go before we go over that proverbial fiscal cliff. they are meeting with the president and the treasury secretary timothy geithner, and they are trying to hash out a deal. but reports that the president has nothing new on the table has ended up spooking wall street in a big way just in the last hour, and as bill said we finished down near the lows of the day, down about 157 points for the dow. settling up right now. down what, about 165 at the very low, bill? >> i think so, yes. >> and the nasdaq finishing down 25 points and the s&p off by 15, a fifth straight day in the red. well, it is the last friday of 2012. it's in the books. check. still no deal in sight and no new offer either on the table from the president as eamon javers told us a little while ago. what now for the markets? we have our guests
gets under way right now. >>> and welcome back, everybody, to the "closing bell." i'm mandy drew i sitting in for maria bartiromo. lots of drama in washington. congressional leaders have arrived at white house. they arrived there about an hour ago with three days to go before we go over that proverbial fiscal cliff. they are meeting with the president and the treasury secretary timothy geithner, and they are trying to hash out a deal. but reports that the president has...
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Dec 27, 2012
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i said we had $100 trillion underfunded liability, i was off by 22 trillion. we need to get more serious than this vacationing back and forth put something together quick, tim geithner throwing in the debt ceiling limit. kabuki theater might have been good for most of the last 237 years, okay, but it isn't any good anymore. we really need to get serious. now to the markets. if you look at year-to-date chart, these are very interesting. year-to-date of our ten-year, we're the 175 down a couple on the day but on the year, we are exactly down a dozen basis points, the bound is down close to 50, okay? closer to 50, i think 46 or 47 basis points, to be exact. we want to continue to monitor that spread, giving a glimpse into how the fixed income markets are handicapping future economic growth, in part in my opinion. we look at the following chart, the euro versus the dollar, yes, at fresh eight-month highs but the real trade, melissa lee accurately pointing to all morning is the yen and very informed. as you look at an interday chart of the yen, you can see a wester
i said we had $100 trillion underfunded liability, i was off by 22 trillion. we need to get more serious than this vacationing back and forth put something together quick, tim geithner throwing in the debt ceiling limit. kabuki theater might have been good for most of the last 237 years, okay, but it isn't any good anymore. we really need to get serious. now to the markets. if you look at year-to-date chart, these are very interesting. year-to-date of our ten-year, we're the 175 down a couple...
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Dec 27, 2012
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the futures right now, up 22 points or so. quiet. for being so portentous, for waiting, ominous, the vix quiet. the markets still above 13,000. we'll see whether that all changes and whether, you know, we just had the discussion. is it really a tarp-like moment? that was frightening. remember andrew. >> i do remember that. i'm not sure we're there. >> right. >> the commercial paper. biggest companies in the world unable to do overnight funding. >> i don't think there's any comparison. >> i don't either. >> although we've tried. >> chris whalen is here and financials have been the top performing sector in 2012, seeing gains of 26% year to date. the low interest rate environment is putting a lot of pressure on profit margins. what's the story for 2012? >> whalen is the executive vice president for -- this is new for you, carrington investment services. and our guest host, john kanas, president and chairman of bankunited. do you have anything positive to say about banks ever? >> oh, no. i love his banks. >> you love his banks? >> anythi
the futures right now, up 22 points or so. quiet. for being so portentous, for waiting, ominous, the vix quiet. the markets still above 13,000. we'll see whether that all changes and whether, you know, we just had the discussion. is it really a tarp-like moment? that was frightening. remember andrew. >> i do remember that. i'm not sure we're there. >> right. >> the commercial paper. biggest companies in the world unable to do overnight funding. >> i don't think there's...
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Dec 26, 2012
12/12
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that's the first hour of the "closing bell." stand by now for hour number two. >> and welcome back, to the "closing bell." i'm mandy drury sitting in for maria bartiromo. it is the end of another trading day, and, no, we do not have a fix for the fiscal cliff. guess what, the numbers also reflect that. let's take a look at how a day on wall street, looks like the dow is down marginally, 24 points to the downside and the nasdaq off by the biggest percentage loss, down by 22 points and the s&p 500 is down by about seven points, and as i said it is crunch time. there are only three trading days left now for 2012 and still no deal to avoid going over the fiscal cliff. all signs are pointing to more talks for lawmakers to try to hash things out. should wall street bet on a fix before january the 1st or is that wishful thinking? >> let's find out. let's speak to our guests. welcome to all of you. brian, where do you make of where we're going right now? you're the one that remains sort of neutral. you're buying this market right now, a
that's the first hour of the "closing bell." stand by now for hour number two. >> and welcome back, to the "closing bell." i'm mandy drury sitting in for maria bartiromo. it is the end of another trading day, and, no, we do not have a fix for the fiscal cliff. guess what, the numbers also reflect that. let's take a look at how a day on wall street, looks like the dow is down marginally, 24 points to the downside and the nasdaq off by the biggest percentage loss, down...
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Jan 2, 2013
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i think gaining 22% since september. what has the market done? flattish? slightly down? is the fed no matter a factor we need to talk about? >> this is easy money. easy money is good. i was talking p this morning, you have to lock in that mortgage. my thoughts for 20131 rates will go up. the economy will be better than people think. >> get your refie now. >> i wonder if this can keep that up. >> there are treasuries -- >> they've got it now. i just don't know if they can keep it. >> we never established the word of 2013. we had hopium two years ago. i think munich should be the word of 2013. that's a honey boo boo term. eunuchize. >> who knows how long they can that v that up. you have it so they don't buy bonds. you see the real rates of bonds and congress does panic opinion but obviously, i think everyone coming on identified that spending is way out of control. that we don't have enough people to afford the future. but i refuse to be as negative as others. >> a spendaholic. >> senator corker is amazing. he is. he is just amazing 37 by the way, very good friends of pey
i think gaining 22% since september. what has the market done? flattish? slightly down? is the fed no matter a factor we need to talk about? >> this is easy money. easy money is good. i was talking p this morning, you have to lock in that mortgage. my thoughts for 20131 rates will go up. the economy will be better than people think. >> get your refie now. >> i wonder if this can keep that up. >> there are treasuries -- >> they've got it now. i just don't know if...
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Jan 3, 2013
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everything, plus a profit of more than $22 billion. for the american people. thank you, america. helping people recover and rebuild -- that's what we do. now let's bring on tomorrow. . losi butterfield. elosi. calvert. boehner. >>> want to take you down to d.c., give you a shot of the house chamber, where the house begun voting on its next speaker, john boehner expected to win re-election. wasn't always easy getting his troops in line during the fiscal cliff negotiations. but, again, speaker boehner suspected to win re-election for the 113th congress. any surprises happen we'll let you know about them. that's the process going on right down in the house chamber. it's time to get a realtime tried with keith mccullough. big move in stocks is what you see. good to see you. happy new year. what's going on? >> i think you have to really think through what growth has started to do here, scott. that's stabilize it. we have gone from growth slowing to where the fed had to provide a tremendous amount of whatever that was to growth stabilizing, in spite of the fed and congress. so, what do
everything, plus a profit of more than $22 billion. for the american people. thank you, america. helping people recover and rebuild -- that's what we do. now let's bring on tomorrow. . losi butterfield. elosi. calvert. boehner. >>> want to take you down to d.c., give you a shot of the house chamber, where the house begun voting on its next speaker, john boehner expected to win re-election. wasn't always easy getting his troops in line during the fiscal cliff negotiations. but, again,...
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Dec 31, 2012
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to talk about that. >> we go to an election in 2014 we're going to have between a $20 trillion and $22 trillion ceiling. that's going to be the complete talk of the next midterm elections. >> okay, mr. santelli. we'll be talking to you-ish. >> happy new year to you guys. >> we'll see you on wednesday on the other side of the cliff. >> all right. when we come back, he has been a leading voice in the senate during these fiscal cliff negotiations. republican senator bob corker will sit down with joe kernen and john harwood right after this. as we head to a break right now, take a look at the futures. >>> welcome back to a special edition of "squawk box." here's joe kernen, and john harwood, live from our nation's capital. >> i'm saying is you -- >> we are back with a special guest, senator bob corker is here with the latest on the fiscal cliff negotiations. and we'll get to, since you're privy to what's happening, john is also hearing things. but first of all, you wrote a letter to president obama after his appearance on "meet the press." >> yeah. >> after he said i have proposed a trilli
to talk about that. >> we go to an election in 2014 we're going to have between a $20 trillion and $22 trillion ceiling. that's going to be the complete talk of the next midterm elections. >> okay, mr. santelli. we'll be talking to you-ish. >> happy new year to you guys. >> we'll see you on wednesday on the other side of the cliff. >> all right. when we come back, he has been a leading voice in the senate during these fiscal cliff negotiations. republican senator...
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Jan 3, 2013
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you see john boehner there. despite recent drama, current speaker john boehner is expected to be re-elected but of course this is something that we continue to follow for you. >>> adp coming out with a better than expected jobs number this morning. goldman sachs just raised its estimate for tomorrow's employment report to a gain of 200,000 jobs from 175,000. for more, let's bring in ward mccarthy, chief u.s. economist at jeffries. good morning to you. >> good morning. >> are you upbeat about tomorrow's employment report, non-farm payrolls? >> i'm pretty upbeat. i think we'll be a solid reading on the private second sore side, i think we'll get an increase of about 188,000. we'll probably lose about 8,000 government jobs but i expect that we'll see a rebound in construction activity and we'll get a little bit of a post-sandy boost as well, i think. >> that's interesting. so you don't believe that the fiscal cliff -- the fiscal cliff will have negatively impacted the figures potentially. >> i think it will on the
you see john boehner there. despite recent drama, current speaker john boehner is expected to be re-elected but of course this is something that we continue to follow for you. >>> adp coming out with a better than expected jobs number this morning. goldman sachs just raised its estimate for tomorrow's employment report to a gain of 200,000 jobs from 175,000. for more, let's bring in ward mccarthy, chief u.s. economist at jeffries. good morning to you. >> good morning. >>...
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Dec 26, 2012
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she's getting set for "closing bell." boies, you'll remember, was involved with an amway case, right. herbalife and amway, not exacts same company, but he's familiar with the way the companies operate in a general level. do you think that maybe there's just your professional part of it, maybe trying to make ackman a little bit scared? >> you know, that certainly is a possibility, and i wouldn't put that past anyone. you know, as i said, it still remains a little bit unclear as to exactly what the real, real motive is for hiring this firm, but you can certainly make that argument and put those two together, but i think, that you know, the big takeaway here is this stock has had a huge, huge drop and, you know, some people are coming out now and saying the stock has gone too far too fast and maybe it's due for a run-up. time will tell and we'll see. i don't know. kind of hard to bet against bill ackman at this point. >> thank you for your time. up next, really fast trains in china. we've decided to great year in the gulf, p
she's getting set for "closing bell." boies, you'll remember, was involved with an amway case, right. herbalife and amway, not exacts same company, but he's familiar with the way the companies operate in a general level. do you think that maybe there's just your professional part of it, maybe trying to make ackman a little bit scared? >> you know, that certainly is a possibility, and i wouldn't put that past anyone. you know, as i said, it still remains a little bit unclear as...
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Jan 2, 2013
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to say that boehner caved, right? >> you know, look, everybody -- the reason this bill passed is because everybody hates it. if anybody liked it -- >> the left doesn't hate it. >> if anybody liked it, it wouldn't have passed. >> i think the president likes it, he won -- one of the weirdest things -- >> and joe, i don't think he won. look, the -- what did they get on the budget sequester? >> come on. now be happy -- you're still not happy? be happy now. how about this -- what about the notion that suddenly those -- those reviled bush tax cuts basically are permanent now, aren't they, for everyone under 400? >> yes, they are. >> that's kind of something, isn't it? something that the democrats just hated so much. i don't know. it became -- became -- >> permanent or not. >> to be clear about what they hated. >> they last a while. >> to be here about what they hated, joe, they hated tax cuts for people at the top because of their view of the way the -- >> i know. >> the inequality was being -- >> i know. you know what i'm
to say that boehner caved, right? >> you know, look, everybody -- the reason this bill passed is because everybody hates it. if anybody liked it -- >> the left doesn't hate it. >> if anybody liked it, it wouldn't have passed. >> i think the president likes it, he won -- one of the weirdest things -- >> and joe, i don't think he won. look, the -- what did they get on the budget sequester? >> come on. now be happy -- you're still not happy? be happy now. how...
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Jan 2, 2013
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obviously speaker boehner tried to pass his plan b bill. they lost a tremendous amount of leverage on that. a month ago, we were talking about house republicans said they want $2.2 trillion in cuts. and now, we have this bill that really didn't have any significant cut what is so ever. i think republicans are going to have to re-group and decide how they're going to move forward together because they are just so fractured. you have at least 50 defections on the republican side on any big bill that comes to the house bill and if democrats don't want to pass the bill, well, then, the bill won't pass. >> that would suggest that the fiscal cliff could be lethal. >> it could be. definitely could be. and i think with any bill, any big deal on tax reform or entitlement reform, it has to be bipartisan. the only big bill that i've seen that has gone through with major ramifications was obama care and that got narrowly by a democrat in the white house. otherwise, the party's going to have to come together. we've got immigration reform, possibly gun c
obviously speaker boehner tried to pass his plan b bill. they lost a tremendous amount of leverage on that. a month ago, we were talking about house republicans said they want $2.2 trillion in cuts. and now, we have this bill that really didn't have any significant cut what is so ever. i think republicans are going to have to re-group and decide how they're going to move forward together because they are just so fractured. you have at least 50 defections on the republican side on any big bill...
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Jan 2, 2013
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everything, plus a profit of more than $22 billion. for the american people. thank you, america. helping people recover and rebuild -- that's what we do. now let's bring on tomorrow. we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪
everything, plus a profit of more than $22 billion. for the american people. thank you, america. helping people recover and rebuild -- that's what we do. now let's bring on tomorrow. we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales...
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Dec 26, 2012
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he's going to be on right through closing bell. today's -- no? >> i will. i might read off the prompter. you never know . >>> the top story, the looming fiscal cliff. the top story really is the brioni tie -- >> i wanted to make a good impression. >> you did. no, if you haven't heard there's a thing called the fiscal cliff. it's -- tax hikes and -- spending cuts that will in come on january 1. and they have done nothing to avert this. both parties say a partial agreement is probably the most that can be expected before january 1. here's a look back at some negotiations that we saw and some key developments that no one has risen above. >> the fiscal cliff, yes, it is still loom figure you're wondering. >> i think we could be taken to the brink again. >> the market is responding to the pending fiscal cliff. >> businesses have stopped investing. business has stopped spending. business has stopped hiring. >> nobody knows what's going to happen. there's outlandish guesses on both sides. >> it wouldn't surprise me if we go past january 1. >> you can't tax your wa
he's going to be on right through closing bell. today's -- no? >> i will. i might read off the prompter. you never know . >>> the top story, the looming fiscal cliff. the top story really is the brioni tie -- >> i wanted to make a good impression. >> you did. no, if you haven't heard there's a thing called the fiscal cliff. it's -- tax hikes and -- spending cuts that will in come on january 1. and they have done nothing to avert this. both parties say a partial...
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Jan 3, 2013
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but what happens now as a budget bell draws closer? we're rising above the debt threat today, with guest host former new hampshire senator and governor judd gregg. >> and our special guest, former white house budget director peter orszag and former dnc chairman howard dean. they'll join the conversation on how to weather the next fiscal storm. >>> plus, breaking news on the employment front, and the state of financials. we've got all the details as the second hour of "squawk box" starts right now. >>> good morning, everybody. welcome back to "squawk box" here on cnbc, i'm becky quick along with joe kernen and and drew ross sorkin. in studio with us as guest host this morning we have goldman sachs international adviser, former senator from new hampshire and former governor judd gregg. good morning, judd. >> becky, great to be here. >> happy new year. by the way, judd is also a cnbc contributor. got a lot to talk with him about today. take a look at the futures which are dawn, but probably not a real surprising drop after that massive ga
but what happens now as a budget bell draws closer? we're rising above the debt threat today, with guest host former new hampshire senator and governor judd gregg. >> and our special guest, former white house budget director peter orszag and former dnc chairman howard dean. they'll join the conversation on how to weather the next fiscal storm. >>> plus, breaking news on the employment front, and the state of financials. we've got all the details as the second hour of "squawk...
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Dec 27, 2012
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and these idiots from harry reid to the president on top and john boehner included, i'm equal opportunity, it's horrible. >> we heard the same thing at the end of 2011 europe would spill to theist and the u.s. consumer was changing their habits. i'd like to point out the discretionary consumer is the second best in the market this year, 21%. any whoever made a bet against the u.s. consumer -- >> what kind of pullback are we talking about? if you guys like the market through the early part of 2013 -- >> i don't like it in january, judge, for what i just mentioned because we will see tax laws selling. we have not seen. we have seen gains selling, people taking gains. when they start taking these loss and when all the rest of this stuff kicks in, that's when i worry these guys will make an even worse deal in panic in january. >> let's go to our guests. what is the best way to protect your money with the cliff deadline a few days away, jason pride, director of glenn me. how are you doing? how do you perceive the markets with a couple days of trade iin left? >> i kind of agree with the conster
and these idiots from harry reid to the president on top and john boehner included, i'm equal opportunity, it's horrible. >> we heard the same thing at the end of 2011 europe would spill to theist and the u.s. consumer was changing their habits. i'd like to point out the discretionary consumer is the second best in the market this year, 21%. any whoever made a bet against the u.s. consumer -- >> what kind of pullback are we talking about? if you guys like the market through the...